PANews reported on January 15 that, according to an official announcement, Binance has completed the mainnet swap and rebranding of FXS Share (FXS) to Frax (FRAX), and has opened deposit and withdrawal services for the new FRAX token.

Binance opened FRAX/USDT spot trading on January 15, 2026 at 16:00 (UTC+8). Users with existing spot copy trading portfolios can now enable the new trading pair. Tokens have been distributed at a ratio of 1 old FXS = 1 new FRAX. Binance reserves the right to close the deposit and swap functionality for old FXS tokens at any time; withdrawals of old FXS tokens will no longer be supported.